. . .OTA + Netflix + Hulu is enough for us. Not having a DVR hasn't bothered us at all. Most of our shows are on Hulu and those that aren't have the newest episodes available on the station's website (I use my MBP + Airplay to the Apple TV to watch them). I just don't think it's worth it to bother setting up a home DVR solution. To be honest, I don't think there's a single show we watch OTA that we could not get new episodes of via either Hulu or the station's website.
Completely reasonable point.
I'll admit the way my current system is set up (streaming AND a DVR for OTA) is somewhat redundant. The network shows we record OTA using the HDHomerun/EyeTV setup are MOSTLY available on Hulu. Though not all are: CBS doesn't have most (any?) of its current-season shows up on Hulu. Many are available on cbs.com and are therefore viewable either using FreeCable plugin for XBMC, or simply airplay mirroring your computer's browser to the TV).
The main benefit we get out of the HDHomerun/EyeTV setup is
convenience. For any shows available on the major networks (ABC, CBS, NBC, FOX, PBS), we don't have to worry about which shows are available via hulu or not, how many shows are available on the network websites (some networks only stream the most recent episode, others stream most recent 5, etc.). We don't have to think about whether to watch show X using Hulu vs. Free Cable vs. airplay mirroring. We don't have to sit through commercials (even the short 30-second ones that come with streaming).
We don't have to think of any of that.
We just set up the OTA recording in EyeTV, go about our lives, and then when we have time and interest, pop on the Apple TV and watch the recorded shows that are waiting for us, all tagged and queued up in the same place on our TV screen.
So, whether it is "worth it" to set up such a convenient system will be different from person to person. Sure I CAN just keep track of what to watch on which website, which shows are on Hulu vs. only available on the network website vs. only available on iTunes, etc. But I don't WANT to have to do that. I just want to flip on the TV and watch.
While the setup of the HD Homerun / EyeTV system was non-trivial, now that it is set up it requires very little maintenance or interaction from me other than deleting watched shows every once in a while.
That said, we do of course have to deal with the Hulu/FreeCable setup for cable shows. Daily Show comes in via Hulu, Project Runway through FreeCable, Breaking Bad is only on iTunes (for current season anyway). And we do the Airplay-mirroring thing for live TV events that we want to watch same-day but don't want commercials. (That is, we'll set the recording for the show in EyeTV, wait 15 minutes or so after the show starts recording, then Airplay mirror the mac's screen to the TV and watch it in the EyeTV program, fast-forwarding through commercials until eventually catching up with "live" by the end.)
But all those outliers are less convenient than the DVR approach.